Industry News

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NEWS INDUSTRY NEWS JAN 04, 2010
Stock market's January slide a bad sign for 2010

The stock market's sudden downward pattern does not bode well for the rest of 2010, according an analysis of market history.

NEWS INDUSTRY NEWS JAN 04, 2010
Stock prices surge on upbeat manufacturing news

The stock market jumped on the first trading day of the year following reports of stronger manufacturing activity around the world as well as a rise in oil prices.

NEWS INDUSTRY NEWS JAN 04, 2010
Stock futures point to positive start for 2010

Stocks appear headed for a higher opening on the first day of trading in the new year following the lead of overseas markets. Stock futures are up.

NEWS INDUSTRY NEWS JAN 04, 2010
Wells Fargo to impose 25% withholding tax rate across adviser network

NEWS INDUSTRY NEWS JAN 04, 2010
Avast ye! Somali pirates create exchange for stolen loot

Market forces work everywhere — even, it would seem, on the high seas. According to published reports, Somali pirates have created a stock exchange to manage their ill-gotten gains.

NEWS RIAS JAN 04, 2010
Swiss unveil criteria for tax disclosure on private accounts

U.S. clients with more than 1 million Swiss Francs in offshore accounts with UBS could be ratted out.

NEWS RIAS JAN 03, 2010
New Year's resolutions we'd like to see

Here are some solutions for 2010 that we hope our politicians, regulators and financial wizards have made.

NEWS INDUSTRY NEWS JAN 03, 2010
U.S. Chamber of Commerce stance on climate change is all wet

As world leaders at the Copenhagen summit moved to chart a global strategy on climate change, the U.S. Congress was readying itself to take up cap-and-trade legislation to reduce carbon emissions here at home.

NEWS RETIREMENT PLANNING JAN 03, 2010
Roth IRA can affect homebuyer credit

The latest version of the tax credit for first-time homebuyers has two new features that may make the credit more widely available, which means more clients with Roth conversion income may be affected.

NEWS INDUSTRY NEWS JAN 03, 2010
Practice management services seen as best way custodians can win RIAs

Broker-dealers that hold client assets for registered investment advisers are pointing their marketing and technology arrows at practice management.

NEWS RETIREMENT PLANNING JAN 03, 2010
Remembering a life of passion

If there is one word to describe Donald Robert Pitti, the financial planning pioneer who died Dec. 18 at the age of 80, it would be “enthusiasm.”

NEWS INDUSTRY NEWS JAN 03, 2010
Texas adviser used former NFL players to promote scheme, the SEC charges

An investment adviser has been charged with defrauding investors in a scheme that used former National Football League players to promote offerings in an insurance company.

NEWS INDUSTRY NEWS DEC 31, 2009
China moves to cool off economy

China's lavish bank lending spurred a recovery but also pumped up markets as speculators scooped up stocks and property and even dabbled in garlic, dried chilli peppers and luxury Pu'er tea.

NEWS RETIREMENT PLANNING DEC 30, 2009
Adviser who led double life gets 17 years for $20M fraud

A judge in Massachusetts throws the book at an adviser who swindled the heirs of gilded-age industrialist Frederick Ayer, Jr.

NEWS RETIREMENT PLANNING DEC 30, 2009
Underserved market for advisers? Women

Advisers have a real opportunity to serve the needs of clients who are saving for retirement — especially women.

NEWS INDUSTRY NEWS DEC 30, 2009
Stocks mixed in midday trading

Stocks are falling in midday trading as a stronger dollar tugs on commodities prices.

NEWS INDUSTRY NEWS DEC 30, 2009
Futures signal lower open for stocks

Stock futures pointed to a lower open on Wall Street Wednesday as a stronger dollar tugged on commodities prices.

NEWS BROKER DEALERS DEC 30, 2009
LPL agrees to pay $1.3M to victims of Montana broker's Ponzi scheme

A Boston-based investment firm has agreed to pay $1.3 million in restitution to Montana investors for a Ponzi scheme run by an independent broker in Kalispell.

Ex-Bernie Madoff workers plead not guilty, deny involvement in Ponzi
NEWS INDUSTRY NEWS DEC 29, 2009
Ex-Bernie Madoff workers plead not guilty, deny involvement in Ponzi

Three ex-employees of Bernie Madoff -- including operations chief Daniel Bonventre (above) -- say they played no part in the fraudster's $65 billion scheme

NEWS INDUSTRY NEWS DEC 29, 2009
Investors are knocking on wood

Institutional investors are investing in timberland, trying to fill new inflation-hedging allocations.